Question No 21 Chapter No 7 – USHA Publication 11 Class

By Shubham Sharma 18 Min Read December 5, 2021

Q-21 - CH-7 - USHA +1 Book 2020 - Solution

Question No 21 Chapter No 7

Table of Contents

The solution of Question No 21 Chapter No 7: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

21. Record the following transaction in the journal of R.Venkataraman and post it to the ledger:

Date
2018
Apr. 3	Commenced business with cash balance Rs 2,00,000 and bank balance Rs 3,00,000.
May. 18	Paid for stationery Rs 10,000 by cheque plus 6% CGST and SGST.
Jul. 17	Purchased goods costing Rs 80,000 plus 6% CGST and SGST from Radhakrishnan.
Aug. 24	Purchased goods costing Rs 40,000 plus 12% IGST in cash.
Sep. 28	Sold goods to Fakhruddin Ali for Rs 50,000 plus 6% CGST and SGST.
Nov. 12	Goods returned to Radhakrishnan costing Rs 6,000 ( goods were originally purchased at 6% CGST and SGST).
Dec. 26	Goods destroyed by fire Rs 20,000. Insurance company admitted the claim for RS 15,000( goods were originally purchased at 6% CGST and SGST).
2019
Jan. 16	Paid for foods and beverages Rs 8,000 plus 2.5% CGST and SGST for meeting with creditors.
Mar. 29	Paid lawyer’s fee Rs 12,000 and deposited 9% CGST and SGST to the Government’s Account.

The solution of Question No 21 Chapter No 7: –

Journal

Date	Particulars		L.F.	Debit	Credit
2018
Apr.1	Cash A/c	Dr.		2,00,000
	Bank A/c	Dr.		3,00,000
	To Capital A/c				5,00,000
	(Being business started with cash and bank)

May. 18	Stationery A/c	Dr.		10,000
	Input CGST A/c	Dr.		600
	Input SGST A/c	Dr.		600
	To Bank A/c				11,200
	(Being bought stationery plus 6% CGST and SGST)

Jul. 17	Purchases A/c	Dr.		80,000
	Input CGST A/c	Dr.		4,800
	Input SGST A/c	Dr.		4,800
	To Radhakrishnan A/c				89,600
	(Being bought goods plus 6% CGST and SGST)

Aug. 24	Purchases A/c	Dr.		40,000
	Input IGST A/c	Dr.		4,800
	To Cash A/c				44,800
	(Being bought goods plus 12% IGST)

Sep.28	Fakhruddin Ali A/c	Dr.		56,000
	To Sale A/c				50,000
	To Output CGST A/c				3,000
	To Output SGST A/c				3,000
	(Being goods sold Fakhruddin Ali 6% CGST and SGST)

Nov. 12	Radhakrishnan A/c	Dr.		6,720
	To Purchases return A/c				6,000
	To Input CGST A/c				360
	To Input SGST A/c				360
	(Being goods sold Fakhruddin Ali 6% CGST and SGST)

Dec. 26	Goods destroyed by Fire A/c	Dr.		7,400
	Insurance Company A/c	Dr.		15,000
	To Purchases A/c				20,000
	To Output CGST A/c				1,200
	To Output SGST A/c				1,200
	(Being goods sold Fakhruddin Ali 6% CGST and SGST)
2019

Jan. 16	Referment A/c	Dr.		8,000
	Input CGST A/c	Dr.		200
	Input SGST A/c	Dr.		200
	To Cash A/c				8,400
	(Being cash paid for food and beverages plus 2.5% CSGST and SGST)

Mar. 29	Lawyer’s fee A/c	Dr.		9,000
	Input CGST A/c	Dr.		1,080
	Input SGST A/c	Dr.		1,080
	To Cash A/c				11,160
	(Being paid to lawyer’s fee and plus 9% CGST and SGST )

Dr.	Cash A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Apr. 1	To Capital A/c		2,00,000	Aug. 24	By Purchases A/c		40,000
				Aug. 24	By Input IGST A/c		4,800
				Jan. 16	By Referment A/c		8,000
				Jan. 16	By Input CGST A/c		800
				Jan. 16	To Input SGST A/c		800
				2019
				Mar. 29	By Lawyer’s fee A/c		9,000
				Mar. 29	By Input CGST A/c		1,080
				Mar. 29	By Input SGST A/c		1,080
				Mar. 31	By Balance c/d		1,34,440
			2,00,000				2,00,000

Dr.	Capital A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
				2018
				Apr. 1	By Cash A/c		2,00,000
2019				Apr. 1	By Bank A/c		3,00,000
Mar. 31	To Balance c/d		5,00,000
			5,00,000				5,00,000

Dr.	Purchases A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2019				2018
Jan. 24	To Radhakrishnan A/c		80,000	Dec. 26	By Goods destroyed by Fire A/c		5,000
				Dec. 26	By Insurance Company A/c		15,000
				2019
				Mar. 31	By Balance c/d		60,000
			80,000				80,000

Dr.	Bank A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Apr.1	To Capital A/c		3,00,000	May. 18	By Stationery A/c		10,000
				May. 18	By Input CGST A/c		600
				May. 18	By Input SGST A/c		600
				2019
				Mar. 31	By Balance c/d		1,66,400
			3,00,000				3,00,000

Dr.	Fakhruddin Ali A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Sep.28	To Sale A/c		50,000
Sep.28	To Output CGST A/c		3,000
Sep.28	To Output SGST A/c		3,000	2019
				Mar. 31	By Balance c/d		56,000
			56,000				56,000

Dr.	Radhakrishnan A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Nov. 12	To Purchases return A/c		6,000	Jul. 17	By Purchases A/c		80,000
Nov. 12	To Input CGST A/c		360	Jul. 17	By Input CGST A/c		4,800
Nov. 12	To Input SGST A/c		360	Jul. 17	By Input SGST A/c		4,800
2019
Mar. 31	To Balance c/d		82,880
			89,600				89,600

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Dr.	Referment A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan. 16	To Cash A/c		8,000
				Mar. 31	By Balance c/d		8,000
			8,000				8,000

Dr.	Lawyer’s fee A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Mar. 29	To Cash A/c		9,000
				Mar. 31	By Balance c/d		9,000
			9,000				9,000

Dr.	Stationery A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May. 18	To Bank A/c		10,000
				Mar. 31	By Balance c/d		10,000
			10,000				10,000

Dr.	Input CGST A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May. 18	To Cash A/c		600	Nov. 12	By Radhakrishnan A/c		360
Jul. 17	To Radhakrishnan A/c		4,800	Dec. 26	By Goods destroyed by Fire A/c		1,200
Nov. 12	To Cash A/c		200
Mar. 29	To Cash A/c		1,080
				Mar. 31	By Balance c/d		5,120
			6,680				6,680

Dr.	Input CGST A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May. 18	To Cash A/c		600	Nov. 12	By Radhakrishnan A/c		360
Jul. 17	To Radhakrishnan A/c		4,800	Dec. 26	By Goods destroyed by Fire A/c		1,200
Nov. 12	To Cash A/c		200
Mar. 29	To Cash A/c		1,080
				Mar. 31	By Balance c/d		5,120
			6,680				6,680

Dr.	Output IGST A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Aug. 24	By Cash A/c		4,800
Mar. 31	To Balance c/d		4,800
			4,800				4,800

Dr.	Sale A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Sept. 28	By Fakhruddin Ali A/c		50,000
Mar. 31	To Balance c/d		50,000
			50,000				50,000

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

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Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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Shubham Sharma December 23, 2020

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